The Greedy Trader Weekly Analysis
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Downtrend Broken Resistance

Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.

Downtrend Broken Resist.

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- 3/15/2024 -
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Altria Group, Inc. (MO) Technical Analysis

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Summary:
Weekly :Williams' Percentage Range is overboughtBroken trend resistance line
Daily :Williams' Percentage Range is overboughtLane's Stochastic is strongly overbought20 Day Moving Average has crossed above the 50 Day Moving Average
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It was a second consecutive positive week for the Altria Group, Inc. (MO). During the week, the MO gained 2.00 points, or 4.78%, and closed at 43.87 on Friday, March 15, 2024. Weekly volume was 68% above average.

Long-term trend: [See MO long-term trend chart]
A long-term downtrend had started on April 21, 2022 at 57.05 and reached 39.07 on October 26, 2023. MO lost 17.98 points, or 31.52%, in 79 weeks. The price is now at the 26.70% retracement level.

Medium-term trend: [See MO medium-term trend chart]
A medium-term downtrend had started on January 24, 2023 at 51.57 and reached 39.07 on October 26, 2023. MO lost 12.50 points, or 24.24%, in 39 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (39.08) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. MO may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See MO weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.

The weekly MACD line is above its signal line since December 29, 2023. The distance between MACD and the signal line is near its high and getting bigger. Use the following link to access a MACD help.

Short-term trend: [See MO short-term trend chart]
A short-term uptrend had started on March 4, 2024 at 39.25 and reached 44.50 on March 15, 2024. MO gained -5.25 points, or -13.38%, in 11 days. The price is now at the 12% retracement level.

Daily Technical Indicators: [See MO daily technical indicators chart]
Daily Williams' Percentage Range is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range or strongly overbought daily Lane's Stochastic. Use the following link to access Lane's Stochastic help.

The daily MACD line is above its signal line since March 5, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term uptrend is strong.

During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 74.31
Williams' Percentage Range (W%R) 11.20
Overbought
Lane's Stochastic (%D-Slow) 94.96
Strong Overbought
Greed/Fear Indicator (GFI) 86.01
Overbought
Moving Average Converg./Diverg. (MACD) 0.41
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 61.67
Williams' Percentage Range (W%R) 10.90
Overbought
Lane's Stochastic (%D-Slow) 48.40
Greed/Fear Indicator (GFI) 63.80
Moving Average Converg./Diverg. (MACD) -0.78
Trading Signals
Description Value Chart
Upper Bollinger Band 44.41
Daily Stochastic Crossing 44.28
Price 43.87
Weekly Stochastic Crossing 42.23
Parabolic System 41.54
20 Day Moving Average 41.45
50 Day Moving Average 41.01
Monthly Trendline Resistance 40.08
Lower Bollinger Band 39.26
Monthly Trendline Support 39.08
Sector and Industry
Description Name Rank
Sector Consumer Staples 4
Industry Tobacco 36
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 39.25
Low Date 03/04/2024
High 44.50
High Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 39.25
Low Date 03/04/2024
High 44.50
High Date 03/15/2024
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 40.08
Support 39.08
High 51.57
High Date 01/24/2023
Low 39.07
Low Date 10/26/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 57.05
High Date 04/21/2022
Low 39.07
Low Date 10/26/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 77.79
High Date 06/20/2017
Low 30.95
Low Date 03/23/2020
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.